Hubballi: software engineer loses money in bogus crypto-trading platform fraud

Picture for representational purpose only

Hubballi: One of the hottest topics which are being searched more on internet browsers these days is cryptocurrency and how to invest in it and make quick money. This attraction is making people fall prey to bogus trading platforms and lose their hard-earned money.

A Hubbali-based software engineer lost Rs 1 lakh to a bogus cryptocurrency trading platform recently. The engineer registered a case with the Cybercrime police and an investigation is going on.

What is the case?

The 24-year-old Priyadarshini Colony resident came across a bogus cryptocurrency trading platform while browsing her Instagram account. She found a post on bitcoin in one of her friends’ accounts, and she immediately contacted “isabella_amelia_fxtrader,” who posted about the cryptocurrency and sought information about it and ways to trade it. The accused, or trickster, informed her that she would get Rs 1.25 lakh in return if she invest Rs 10,000. The victim installed an app called “Binance” to kick-start the trading on the advice of a fraudster. She invested Rs 1 lakh in it, but she got no return or money in crypto. Then she realised that she had been cheated and registered a case with the cybercrime police.

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